KOTA Territory NewsSouth Dakota Senator holds cybersecurity meeting

South Dakota Senator holds cybersecurity meeting

Senate Banking Committee Chairman Senator Tim Johnson (D)-South Dakota held a hearing on cybersecurity and data protection in the financial sector Tuesday, where he invited Dr. Kevin Streff, Associate Professor of Information Assurance at Dakota State University in Madison, to testify.   

"Recent high-profile data breaches at major institutions within the financial sector and elsewhere underscore the importance of cybersecurity for the American economy," said Johnson.  "Breaches are disruptive and raise the potential for financial fraud, identity theft and, potentially, severe threats to our national economic security."

The Committee explored the current state of regulation affecting the financial industry and American consumers, as well as the potential impact of proposed legislation. 

Dr. Streff's work focuses on the financial services industry, including banking, insurance, and credit operations. At this morning's hearing he pinpointed many of the cybersecurity challenges facing small and medium-sized community banks and credit unions.  Dr. Streff is also the Director of the National Center for the Protection of the Financial Infrastructure.

"I appreciate Dr. Streff's testimony on the current state of cybersecurity in the context of small and medium-sized financial institutions," said Johnson. "Hundreds of thousands of South Dakotans rely on local community banks and credit unions for their financial needs, so it is important to ensure their personal information is secure."

"Senator Johnson has been a real thought leader in cybersecurity issues, looking to promote social responsibility and protect consumer rights," said Dr. Streff. "The hearing he called today exemplifies his commitment to an issue important to South Dakotans and the nation."